The Azerbaijan State News Agency

POLITICS

AZERBAIJAN TO MAKE ‘BIG INVESTMENTS’ IN RENEWABLE ENERGY SOURCES

Baku, 8 February (AZERTAC). Azerbaijan`s President Ilham Aliyev has said his country plans to invest hugely in renewable energy sources.

The President delivered remarks at Panel Discussion “Resource Security and Shifting Global Power” as part of the Munich Security Conference.

The President said: “We`ve set up a state agency for alternative and renewable energy sources. And a key priority for us will be solar and wind energy, as Azerbaijan has very favorable climate conditions for it.”

“We`ve already drawn up the map of our water resources and plan to embark on building hydro electric power stations on small rivers.”

“We`ll attract large amounts of investment both from the pubic and private sectors. This will allow us to preserve our oil and gas reserves for the generations to come and also to invest our oil earnings in renewable energy sources,” added the Azerbaijani leader.

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